Will the crypto market ever find a bottom? It seems that Bitcoin (BTC) and Ethereum (ETH) are still searching for it, while Collateral Network (COLT) is going ahead with its plans to launch its presale and the token price stands at just $0.01. Let’s take a closer look at why the market sentiment is so low, and how Collateral Network (COLT) hopes to weather the storm.
Bitcoin (BTC)
Bitcoin (BTC) has been a store of value and speculation assets ever since it was first introduced to the world in 2009. Bitcoin (BTC) has seen its fair share of ups and downs over the years, but this latest dip in the price of Bitcoin (BTC) is proving to be one of the most challenging yet.
Bitcoin (BTC) never usually dips below the previous all-time high, but that has now changed with Bitcoin (BTC) falling below $20,000 and looking for a bottom. But what is causing the Bitcoin (BTC) plunge?
Bitcoin (BTC) holders blame the wider economic downturn, regressive regulations in countries like China, and altcoins taking away market share. However, it’s important to realize that Bitcoin (BTC) should be flourishing in a high-inflation environment, so perhaps the real issue isn’t external factors but rather overvaluation.
Ethereum (ETH)
Ethereum (ETH) is the second-largest cryptocurrency by market capitalization and has been consolidating in a tight range over the past few weeks. Despite its low valuation, there is still plenty of positive news coming out of the Ethereum (ETH) ecosystem.
Developers continue to work on the shift to Ethereum 2.0 (ETH) and there are rumors that larger players may be buying up ETH for their balance sheets. All of this spells good news for Ethereum (ETH) and its holders, who could benefit from a strong rebound in the crypto markets.
However, despite Ethereum (ETH) moving sideways along with Bitcoin (BTC), no one knows when Ethereum (ETH) will truly bottom out. Until then, Ethereum (ETH) holders will need to remain patient and maintain a long-term outlook.
Other Ethereum (ETH) holders are getting impatient and looking for newer ways to make money in the crypto markets, like participating in the presale for Collateral Network (COLT).
Collateral Network (COLT)
Collateral Network (COLT) is a platform that utilizes blockchain technology to facilitate borrowing and lending. The real USP of Collateral Network (COLT) is the use of fractionalized non-fungible tokens (F-NFTs) as collateral.
For example, Andrew needs to purchase a new car but is short on cash. He can use Collateral Network (COLT) to mint an NFT that represents his watch and use it as collateral for a loan. This way, Andrew can get the capital he needs without having to sell the watch or approach a bank.
Lenders are benefited from this new platform too, as they will be able to access new sources of revenue without having to worry about the creditworthiness of borrowers. Plus, the use of fractionalized collateral allows multiple lenders to participate in the same loan, thus lowering the required capital and increasing the overall liquidity in the market.
If you own COLT, the native token of the Collateral Network (COLT) platform, you will be entitled to reduced fees, rewards for staking and the opportunity to have a say in how the Collateral Network (COLT) platform is run through governance.
With so much utility, demand for the COLT token is expected to be high during the upcoming presale with a price of only $0.01 and predictions of it increasing by 35x in 6 months. So, if you want to get in on the ground floor of a platform that could revolutionize lending and borrowing, now is the time to join Collateral Network (COLT).
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
